Daily Chart
Half Hourly Chart
- The Nifty was range bound making a marginal lower high and low on incresing volumes.
- The wide range since 17th Feb of 4930-4805 needs to be broken to give direction to the market.
- Oscillators still neutral.
- 20 dema resistance respected.
- Uptrendline from 4675 held.
A break above 4885 will lead to test of 4930-4951 and a break below 4833 will lead to a test of 4805-4785. Follow up buying or selling beyond these levels will give a 100 point move whichever way the market breaks out.
Strategy of holding hedged longs with a stop of 4772 continues.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
2 comments:
Madam,
Got ur blog details from Mr.Sudarshan's blog.I am very much interested in learning technicals..I would be grateful to u if you could advice me the procedure for starting..
Krish2net@yahoo.co.in
Please join the forum at http://www.vipreetsafetrading.com/forum/
if you put up your query there or followthe posts too you will learn a lot. Also buy the technical analysis book by edwards and magee and master it.
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